A critical look at Harris

[JayBird]

What was the source of the demand?

Mostly pent up consumer spending that had been suppressed during the pandemic.

It was Government policies, (not just the U.S.) that put trillions of dollars of cash into an economy (driving up demand) in a market with the lack of supply due to supply chain problems.

I guess Trump screwed up then with his COVID stimulus checks, eh?

It had nothing to do with Russia's invasion of Ukraine.

Yes it did.

https://fredblog.stlouisfed.org/2023/10/the-ukraine-wars-effects-on-us-commodity-prices/

Oil prices in the U.S. were and are high because the Harris-Biden administration reduced the amount of domestic supply, causing it to have to buy from other countries. We know the domestic supply was down because he raided the strategic oil reserve.

First, apparently you're not aware that oil prices are set on the global market. You should educate yourself on that.

Second, President Biden drew down the reserve when prices were high and then filled it back up when prices were lower, thereby generating a net profit for US taxpayers.

https://www.investopedia.com/us-scores-four-billion-dollar-windfall-on-oil-reserve-sales-6950935

Finally, US domestic oil and gas production is higher now than it was under Trump, and is actually at record levels of production.

https://finance.yahoo.com/news/u-oil-production-hits-record-134800676.html

 

[cv5]

Fred Krueger
@dotkrueger
"The unrealized tax is only for ultra wealthy, no big deal."

Let's play this out.
25% unrealized gains on people worth 100MM.
Bill Gates is worth 132 Billion.
Assume his unrealized tax due is about 30 billion.

He would need to sell 40 Billion in Microsoft shares, pay tax on that, just to pay the unrealized tax.

That would probably tank MSFT 10%.

7 million people own Microsoft stock.

Now repeat with META, GOOG, NVDA, AAPL, TSLA etc..

 

[cv5]

https://x.com/EndWokeness/status/1829243123912061078

No, she did not work at Mickey Ds.
Yes she lied her fool head off.

 

[cv5]

Another win for the border czar....

@charliekirk11
15m
Moms in Aurora, CO are terrified to go to the public parks because they’ve been taken over by Venezuelan gangs. They only go in groups carrying pepper spray, and a taser.

“This is terrifying… me and my son are too scared to go to a playground.”

 

[NightTwister]

Mostly pent up consumer spending that had been suppressed during the pandemic.


I guess Trump screwed up then with his COVID stimulus checks, eh?


Yes it did.

https://fredblog.stlouisfed.org/2023/10/the-ukraine-wars-effects-on-us-commodity-prices/


First, apparently you're not aware that oil prices are set on the global market. You should educate yourself on that.

Second, President Biden drew down the reserve when prices were high and then filled it back up when prices were lower, thereby generating a net profit for US taxpayers.

https://www.investopedia.com/us-scores-four-billion-dollar-windfall-on-oil-reserve-sales-6950935

Finally, US domestic oil and gas production is higher now than it was under Trump, and is actually at record levels of production.

https://finance.yahoo.com/news/u-oil-production-hits-record-134800676.html

 

[NightTwister]

Mostly pent up consumer spending that had been suppressed during the pandemic

Wrong. Consumer spending went up because their income came up artificially.

I guess Trump screwed up then with his COVID stimulus checks, eh?

Yes, he did. Same goes for Harris-Biden who gave out a lot more than Trump did, in addition to out-of-control spending using money that we don't have.

First, apparently you're not aware that oil prices are set on the global market. You should educate yourself on that.

I'm well aware of that. The prices are based on supply and demand. When the supply our supply went down, but demand didn't change, prices went up. You should educate yourself on this.

Second, President Biden drew down the reserve when prices were high and then filled it back up when prices were lower, thereby generating a net profit for US taxpayers.

The price Harris-Biden paid to "refill" (it's still must lower than under Trump) it cost much more than what it cost to fill it before he drew it down. That's a net loss.

Finally, US domestic oil and gas production is higher now than it was under Trump, and is actually at record levels of production.

The Harris-Biden-era peak is still 300,000 barrels below the record set by Trump (13.1 million vs. 12.8 million). We went from being a net-exporter to a net-importer. Harris-Biden policies have destroyed future development which will affect the price even more in the future.

The fact is oil was $50 under Trump and $80+ under Harris-Biden.

 

[NightTwister]

Another win for the border czar....

@charliekirk11
15m
Moms in Aurora, CO are terrified to go to the public parks because they’ve been taken over by Venezuelan gangs. They only go in groups carrying pepper spray, and a taser.

“This is terrifying… me and my son are too scared to go to a playground.”

Aurora is a war zone. I'm so glad I moved away from there 4 years ago. I got out just in time.

 

[NightTwister]

Fred Krueger
@dotkrueger
"The unrealized tax is only for ultra wealthy, no big deal."

Let's play this out.
25% unrealized gains on people worth 100MM.
Bill Gates is worth 132 Billion.
Assume his unrealized tax due is about 30 billion.

He would need to sell 40 Billion in Microsoft shares, pay tax on that, just to pay the unrealized tax.

That would probably tank MSFT 10%.

7 million people own Microsoft stock.

Now repeat with META, GOOG, NVDA, AAPL, TSLA etc..

Sooner or later they'll run out of other people's money.

 

[JayBird]

Wrong. Consumer spending went up because their income came up artificially.

FYI, economic surveys were conducted and showed that a majority of consumers were very eager to start spending again once the pandemic restrictions were lifted. So if you don't think there was any pent up demand after COVID, we'll just have to disagree.

I'm well aware of that. The prices are based on supply and demand.

Crude oil is a commodity and as such, is subject to fluctuations based on speculation too. When Russia invaded Ukraine, prices immediately rose.

When the supply our supply went down, but demand didn't change, prices went up. You should educate yourself on this.

Provide some info and I'll take a look.

The price Harris-Biden paid to "refill" (it's still must lower than under Trump) it cost much more than what it cost to fill it before he drew it down. That's a net loss.

You obviously didn't read the article I posted. They sold off some of the reserve when prices were about at their peak, which by itself was a huge profit. Now that oil prices are lower than that peak, they're refilling it at obviously lower costs than what they sold it for.

The Harris-Biden-era peak is still 300,000 barrels below the record set by Trump (13.1 million vs. 12.8 million).

Source?

We went from being a net-exporter to a net-importer. Harris-Biden policies have destroyed future development which will affect the price even more in the future.

Nope.

https://www.politico.com/news/2024/08/07/us-oil-output-august-record-00173065

U.S. oil producers pumped record high levels of crude last week, according to government data released Wednesday, extending the upswing in output that has made the United States the biggest oil and gas producer in history.​

​

https://www.newsweek.com/us-energy-independence-first-time-40-years-1878729

In a report published on March 5, Michael Cembalest, chair of the bank's market and investment strategy arm, declared that "the U.S. has achieved energy independence for the first time in 40 years while Europe and China compete for global energy resources."​

​

An accompanying statistical review of fossil fuel movements suggests that the U.S. was a net importer of fossil fuels throughout the 1980s to the 1990s, reaching a peak in the late 2000s before imports steadily declined relative to exports. It became a net exporter around 2019, and as of around 2022 was providing nearly 200 million tonnes of fossil fuels to the global market.​

​

 

[tourist]

Fred Krueger
@dotkrueger
"The unrealized tax is only for ultra wealthy, no big deal."

Let's play this out.
25% unrealized gains on people worth 100MM.
Bill Gates is worth 132 Billion.
Assume his unrealized tax due is about 30 billion.

He would need to sell 40 Billion in Microsoft shares, pay tax on that, just to pay the unrealized tax.

That would probably tank MSFT 10%.

7 million people own Microsoft stock.

Now repeat with META, GOOG, NVDA, AAPL, TSLA etc..

It would be an unmitigated financial disaster affecting everyone with a 401K plan.

 

[NightTwister]

FYI, economic surveys were conducted and showed that a majority of consumers were very eager to start spending again once the pandemic restrictions were lifted. So if you don't think there was any pent up demand after COVID, we'll just have to disagree.

Pent up eagerness doesn't equal ability. Loads of extra cash equals ability.

Crude oil is a commodity and as such, is subject to fluctuations based on speculation too. When Russia invaded Ukraine, prices immediately rose.

Uncertainty can increase prices, but ultimately once certainty returns they go back to market based. The Russia/Ukraine war continues even today, but prices came down. That war had no effect other than short-term uncertainty.[/QUOTE]

Source?

Do your own research.

Nope.

Yup.

 

[cv5]

It would be an unmitigated financial disaster affecting everyone with a 401K plan.

The requisite deleveraging would nuke the entire global financial system.
Ultimately, a collapse of the fiat Ponzi confidence game.

 

[JayBird]

Pent up eagerness doesn't equal ability. Loads of extra cash equals ability.

Which people had after not going out to eat, see movies, travel, etc.

Uncertainty can increase prices, but ultimately once certainty returns they go back to market based. The Russia/Ukraine war continues even today, but prices came down. That war had no effect other than short-term uncertainty.

And that short-term uncertainty and panic certainly mattered. And the global price of crude did not go back down to what it was during the pandemic, which makes sense.

https://www.statista.com/statistics/262860/uk-brent-crude-oil-price-changes-since-1976/

 

[NightTwister]

Which people had after not going out to eat, see movies, travel, etc.

Non sequitur.

And that short-term uncertainty and panic certainly mattered. And the global price of crude did not go back down to what it was during the pandemic, which makes sense.

It will after Trump is re-elected and certainty returns.

 

[JayBird]

Non sequitur.

It will after Trump is re-elected and certainty returns.

Thanks for your time.

 

[NightTwister]

Thanks for your time.

My pleasure.

 

[Nehemiah6]

This thread is about a critical look at Kamala Harris. And what people have seen today is a sham "interview" which was pared down to 18 minutes, and CNN will not release the transcript because it is so awful. So who in their right mind would ever vote for this moron Harris? Biden knew she was totally useless and clueless, but "nominated" her only to spite the Democratic leadership.

Report: Kamala Interview So Terrible CNN Cuts to 18 MINUTES, Won’t Release Transcript
Report: Kamala Interview So Terrible CNN Cuts to 18 MINUTES, Won’t Release Transcript (infowars.com)
First she needed a baby sitter (Walz) then she chose partisan Dana Bash who tried to answer the questions for her. Then she wanted a sit-down interview with Trump with her mic on while he was speaking (in order to interrupt) and cheat-sheets to help her (with her brainlessness). Trump should have insisted on a Fox News debate with proper moderators, not partisans like Bret Baier. He agreed to go along with ABC, which is a Democrat stronghold.

 

[Nehemiah6]

‘She Ain’t Made For This’: Harris Aides, White House Staffers Vilify Her In Expository Book
“It was rotten from the start,” a top aide from her 2020 campaign noted. “A lot of us, at least folks that I was friends with on the campaign, all realized that: ‘Yeah, this person should not be president of the United States,’ the aide told the authors.
‘She Ain’t Made For This’: Harris Aides, White House Staffers Vilify Her In Expository Book | The Daily Caller

 

[Nehemiah6]

Kamala's First 'Interview' Was the Dumpster Fire You Expected It Would Be
...and it's no shock that Dana Bash never called Harris out for blatantly lying. It's also not shocking that Kamala was never presented with clips of her own words endorsing the exact opposite of what she claims to be about now. And Walz wasn't pressured to explain why he lied about his service, his DUI arrest, and about using IVF. Bash just accepted his longwinded and weak response about his "grammar" sometimes being wrong as a legitimate explanation.
Kamala's First 'Interview' Was the Dumpster Fire You Expected It Would Be – PJ Media

 

[ZNP]

‘She Ain’t Made For This’: Harris Aides, White House Staffers Vilify Her In Expository Book
“It was rotten from the start,” a top aide from her 2020 campaign noted. “A lot of us, at least folks that I was friends with on the campaign, all realized that: ‘Yeah, this person should not be president of the United States,’ the aide told the authors.
‘She Ain’t Made For This’: Harris Aides, White House Staffers Vilify Her In Expository Book | The Daily Caller

But was she made to be a puppet?